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Permian Resources (PR) Q1 Earnings Preview: What You Should Know Beyond the Headline Estimates
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Wall Street analysts forecast that Permian Resources (PR - Free Report) will report quarterly earnings of $0.44 per share in its upcoming release, pointing to a year-over-year increase of 4.8%. It is anticipated that revenues will amount to $1.39 billion, exhibiting an increase of 12.1% compared to the year-ago quarter.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 18.6% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
In light of this perspective, let's dive into the average estimates of certain Permian Resources metrics that are commonly tracked and forecasted by Wall Street analysts.
Analysts forecast 'Average daily net production - Total' to reach 368,855.00 BOE/D. The estimate is in contrast to the year-ago figure of 319,514 BOE/D.
It is projected by analysts that the 'Average daily net production volume - Natural gas' will reach 640,427.80 Mcf/D. The estimate is in contrast to the year-ago figure of 569,249 Mcf/D.
The average prediction of analysts places 'Average daily net production volume - NGL' at 89,908.61 BBL/D. The estimate is in contrast to the year-ago figure of 72,846 BBL/D.
The collective assessment of analysts points to an estimated 'Average daily net production volume - Oil' of 171,776.00 BBL/D. Compared to the current estimate, the company reported 151,794 BBL/D in the same quarter of the previous year.
According to the collective judgment of analysts, 'Average sales prices - Oil - Including Derivative Cash Settlements' should come in at $71.63. The estimate compares to the year-ago value of $76.01.
The consensus among analysts is that 'Average sales price - Oil' will reach $70.68. The estimate compares to the year-ago value of $76.13.
The consensus estimate for 'Average sales price - NGL' stands at $23.02. The estimate compares to the year-ago value of $26.47.
Permian Resources shares have witnessed a change of +9.1% in the past month, in contrast to the Zacks S&P 500 composite's +11.5% move. With a Zacks Rank #3 (Hold), PR is expected closely follow the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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Permian Resources (PR) Q1 Earnings Preview: What You Should Know Beyond the Headline Estimates
Wall Street analysts forecast that Permian Resources (PR - Free Report) will report quarterly earnings of $0.44 per share in its upcoming release, pointing to a year-over-year increase of 4.8%. It is anticipated that revenues will amount to $1.39 billion, exhibiting an increase of 12.1% compared to the year-ago quarter.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 18.6% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
In light of this perspective, let's dive into the average estimates of certain Permian Resources metrics that are commonly tracked and forecasted by Wall Street analysts.
Analysts forecast 'Average daily net production - Total' to reach 368,855.00 BOE/D. The estimate is in contrast to the year-ago figure of 319,514 BOE/D.
It is projected by analysts that the 'Average daily net production volume - Natural gas' will reach 640,427.80 Mcf/D. The estimate is in contrast to the year-ago figure of 569,249 Mcf/D.
The average prediction of analysts places 'Average daily net production volume - NGL' at 89,908.61 BBL/D. The estimate is in contrast to the year-ago figure of 72,846 BBL/D.
The collective assessment of analysts points to an estimated 'Average daily net production volume - Oil' of 171,776.00 BBL/D. Compared to the current estimate, the company reported 151,794 BBL/D in the same quarter of the previous year.
According to the collective judgment of analysts, 'Average sales prices - Oil - Including Derivative Cash Settlements' should come in at $71.63. The estimate compares to the year-ago value of $76.01.
The consensus among analysts is that 'Average sales price - Oil' will reach $70.68. The estimate compares to the year-ago value of $76.13.
The consensus estimate for 'Average sales price - NGL' stands at $23.02. The estimate compares to the year-ago value of $26.47.
View all Key Company Metrics for Permian Resources here>>>
Permian Resources shares have witnessed a change of +9.1% in the past month, in contrast to the Zacks S&P 500 composite's +11.5% move. With a Zacks Rank #3 (Hold), PR is expected closely follow the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>